Best Personal Loans in Sacramento, CA

Sacramento Credit Union is the best personal loan lender in Sacramento, California, with a MoneyGeek score of 95 out of 100. It offers competitive interest rates, has a quick application and approval process and is credible and transparent about its loan terms and process. Laurel Road is the best lender for online personal loans, with a MoneyGeek score of 93 out of 100. It stands out due to its strong customer service, quick application and approval process and credibility and transparency about its loan terms and process.

MoneyGeek prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and speed of loan funding to gather our best city recommendations. If you're looking for national lenders, we compiled our top picks for the best personal loans in California.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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Our overall analysis was completed in August 2024. Here we considered banks and credit unions with brick and mortar locations in Sacramento, California. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Sacramento, CA

Company logo for Sacramento Credit Union
Sacramento Credit Union

MoneyGeek Score95
APR Range8.99% to 19.69%
Loan Amount RangeUp to $25,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Sacramento Credit Union is the best personal loan lender in Sacramento, California, with a MoneyGeek score of 95 out of 100. It offers competitive APR rates starting at 8.99%, making it an attractive choice for affordable loans. Its convenient mobile app allows users to manage their loans on the go. However, the maximum loan amount is $25,000, which may not meet higher borrowing needs. Additionally, it does not offer the option to prequalify, which could be a drawback for those wanting to check potential rates without affecting their credit score.

Best Online Personal Loan in Sacramento, CA

Company logo for Laurel Road
Laurel Road

MoneyGeek Score93
APR Range9.49% to 24.50%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive FundsWithin 7 Days
Overview

Laurel Road is the best online lender for personal loans in Sacramento, California, with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000 with repayment terms between 36 and 60 months, and customers typically receive funds within seven days. Borrowers can enjoy a discount for setting up automatic payments and won't face origination or prepayment penalties. However, its minimum loan amount is relatively high, which may not cater to those seeking smaller loans. There is also a late fee for missed payments.

Calculate Your Monthly Payment in Sacramento, CA

According to the United States Census Bureau, the median annual household income in Sacramento, California, in 2022 was $80,254. Whether your actual income is above or below this figure, your ability to afford the monthly loan payments is key. Use our personal loan calculator to estimate your monthly loan payments and the total loan cost by entering the loan amount, rate and terms.

For example, a $10,000 personal loan with a 10% interest rate and a three-year repayment term results in monthly payments of $323 or annual payments of $3,876. This amount represents approximately 5% of the median annual household income in Sacramento, California.

Personal Loan Calculator

Estimate the monthly payment for your loan.

Updated: Nov 5, 2024

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Runner-Up for Best Personal Loan in Sacramento, CA

Company logo for Heritage Community Credit Union
Heritage Community Credit Union

MoneyGeek Score91
APR Range11.29% to 18%
Loan Amount RangeUp to $20,000
Repayment TermsUp to 72 months
Time to Receive FundsUndisclosed
Overview

Heritage Community Credit Union is the runner-up for the best personal loans in Sacramento, California, with a MoneyGeek score of 91 out of 100. It allows co-borrowers, making it easier for those needing additional approval strength. Borrowers also benefit from no application fees or prepayment penalties, saving costs upfront and during repayment. However, its borrowing limit is $20,000, which might not be sufficient for larger financial needs. There are also fees for late payments, which could add to the cost if you miss due dates.

Other Options for Personal Loans in Sacramento, CA

Company logo for SAFE Credit Union
SAFE Credit Union

MoneyGeek Score89
APR Range10.79% to 17.79%
Loan Amount RangeUp to 20,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

SAFE Credit Union is a suitable choice for personal loans in Sacramento, California, with a MoneyGeek score of 89 out of 100. It is federally insured by the NCUA and holds a BBB rating of A+, providing borrowers with a sense of security and trust. However, its borrowing limit of $20,000 might not meet the needs of those seeking larger loan amounts. Additionally, it does not disclose loan eligibility requirements for personal loans, which may create uncertainty for potential applicants.

National Lenders With Physical Locations in Sacramento, CA

Borrowers looking for the best personal loans in Sacramento, California, who value in-person service from a national lender, have a few options available. Lenders with physical branches include Wells Fargo, U.S. Bank and OneMain Financial. They offer various personal loan products and services directly to consumers.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
U.S. Bank8.74% to 24.99%$1,000 to $50,00012 to 84 months
Wells Fargo7.49% to 23.24%$3,000 to $100,00012 to 84 months

What to Do if You Can't Get a Personal Loan in Sacramento, CA

Your personal loan application in Sacramento, California, can get denied due to various reasons, like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, there are steps to navigate this setback.

1
Find out the reason for the denial

Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Reviewing the reasons will help you improve your weak areas and prevent another loan application denial in the future.

2
Modify your loan terms

You can try asking your lender if you can adjust the loan amount or repayment terms to get approved.

3
Look for another lender

Different lenders have varying eligibility criteria for personal loan approval. Shopping around and considering factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service will help you find the best lender for your particular needs and circumstances.

4
Explore credit counseling services

Lenders often look at your debt-to-income ratio when evaluating your loan application. You may consider a credit counseling agency to manage your credit card debt better and develop your budget. You can search for credit counseling services with the City of Sacramento’s Financial Empowerment Center. The Department of Justice's list of approved credit counseling agencies can be another resource to review.

FAQ About Personal Loans in Sacramento, CA

We addressed common questions about the top personal loans in Sacramento, California, to help you make informed choices.

Who is the best overall personal loan lender in Sacramento, California?
What are personal loans used for in Sacramento, California?
What are the interest rates on personal loans in Sacramento, California?
What are the benefits and drawbacks of personal loans?
What are some personal loan red flags to look out for?
How to apply for a personal loan online?
Can I get a personal loan with bad credit in Sacramento, California?
What are the best low-interest personal loans in Sacramento, California?
What is an installment loan? Is there a difference between personal loans and installment loans in Sacramento, California?
Is there a difference between credit union loans and bank loans in Sacramento, California?

About Zachary Romeo, CBCA


Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.


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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.